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Board reviews 2025 proxy‑voting activity and industry shifts affecting shareholder proposals
Summary
Director Collins told the board staff voted on roughly 12,500 proposals in 2025, supported about 85% of management proposals and noted regulatory and market developments (SEC guidance, proxy‑advisor dynamics and institutional moves toward in‑house tools) that may affect 2026 proxy season.
Director Collins presented a summary of the retirement system's proxy‑voting activity for calendar year 2025 and highlighted trends that could affect the 2026 proxy season.
Collins said the system voted on about 12,500 proposals at more than 1,000 shareholder meetings in 2025, with the majority at U.S. companies. He told…
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